The Internet, also referred to as the World Wide Web, comprises a vast number of computers connected by computer networks which themselves are joined together by means of Web servers, switches, routers, base stations, and gateways which enable transfer of packets of data between computers using a TCP/IP suite of protocols. The interconnected computers and Web servers exchange information using various services, such as electronic mail (or email), ftp, and the Hypertext Transfer Protocol (HTTP). In view of its open protocol nature, the Internet facilitates unprecedented instant interconnections between users, companies, and governments that were not even dreamed of a decade ago.
With the invention of the Internet, new global business opportunities surfaced. In view of its global nature, the Internet is especially useful for conducting electronic commerce.
Many Web servers have been developed and utilized by vendors to advertise and sell products. The products can be tangible items (e.g., books, CD's, collectibles, etc.) that are delivered through conventional distribution channels (e.g., a common mail carrier), items that are delivered electronically to the purchaser over the network or Internet, or items that are electronically confirmed only (e.g., rights of use timeshare). Internet commerce does not only copy the brick and mortal storefront to extend its reach to global markets, it has also enabled the birth of new businesses that would not be possible to form without the capability of reaching millions of users.
Besides a traditional Internet marketplace's sell and purchase transactions, a Web server computer system may also be built to provide an electronic version of classified advertisements or classifieds. Such systems list items that are available for sale, purchase, or trade. In the past, classifieds were traditionally in print media at local newspapers or posted at local supermarkets or clubs. With the advent of the Internet, an electronic bulletin board and classifieds can grow to include users outside of a local area.
For example, in a typical electronic bulletin board or classifieds model, a user, who wishes to offer item for sale, may list one or more items he owns on the Web site. This listing information may include, among others things, the seller's name, address, email address, and telephone number and possibly credit card number or other payment account if a listing fee is charged. Another user, who is a potential buyer, may browse through the electronic bulletin board using the Internet and a Web browser and select various items that he wishes to buy. In one implementation, once the other user selects the items, the actual sale/purchase is accomplished outside of the electronic platform. In another implementation, when the user has completed selecting the items to be purchased, the server computer system then prompts the potential buyer for additional information, such as shipping information and a credit card number, in order to complete the trade. The server computer system then typically confirms the order by sending a confirming email to the client computer system and informs the seller to ship the item.
Although this traditional “electronic bulletin board” or “classifieds” model is very flexible and intuitive, it has several major downsides. It can facilitate a sale or purchase of items independent of each other only, but not for barter. In other words, only one transaction, sale, or purchase, at a time is executed. In addition, the overhead of searching and confirming the various steps of the sale or purchase process, including waiting for, viewing, and updating the item-specific information, can be very high. This overhead makes the electronic bulletin board or classifieds model cumbersome.
Although some more advanced “electronic bulletin boards” allow users to specify items for barter, they allow specifying only one item “wanted” for each item available. The inability to specify multiple “wanted” items for each item listed makes trade transactions difficult to complete. In addition, those “wanted” items, as described by the user, may not be well described. It would thus be desirable to allow the system to specify items wanted “by example” by selecting from previously listed items for trade.
“Electronic bulletin boards” also lack efficient automated matching capability to find potential trades. Although a manual search for potential trades involving only two participants is, in general, feasible, search for multiparty trades and coordinating of multiparty barter without automated tools is, at least, cumbersome.
It is believed that existing electronic bulletin boards do not support trade or bartering between a plurality of users. Most, if not all, such existing systems do not have any means for forming and confirming multi-party trades between multiple users. There is thus a need to provide an efficient platform for trades between pluralities of parties that takes advantage of currently available processing power of computer systems. A computerized barter system is thus needed for fast search and matching between traders and for “expedited” trade closing without providing “repeated” information for each trading step.
Once a trade is closed, when the trade involves tangible goods, then the items must be shipped to the other traders. When traders close a trade, they are typically required to deliver the item they own to the other user. Since the items are usually not shipped from a central location, there is a little control as to if and when items are shipped and received. Although it will not be possible to inspect individual shipments for contents, a method for secure shipment of tangible items being traded is needed to eliminate cases when traders close trade and do not ship items.
In a typical electronic bulletin board, the user, who is a potential buyer, has limited search capabilities for items he is interested in acquiring. A returning user, typically regarded as a “guest” until login, cannot search for items he is interested without specifically describing search conditions each time he is conducting a search. A system is therefore needed that allows users to quickly and efficiently search for items of interest without logging into the system each time.
An efficient matching method that allows traders save time and money by shortening both the searching process and the final negotiation process is clearly an important factor for further advances in eCommerce. As described more fully below, the present invention proposes, among other things, a system that automatically matches potential trade partners that are likely to agree with a barter transaction. It would therefore be of great interest to eCommerce participants to use systems that embody the present invention while trying to improve their efficiency and profitability.